LTSB overdraft

[cymruambyth]

Going through old paperwork I have found:

Enforcement notice to me terminating account on 1 August 200:wink: and demanding payment of arrears dated 23 July 200:wink:

DN issued 13 August, need to check on date of posting as remedy on 22 Aug

OH received enforcement notice dated 1 Sept 200:wink: payment etc 10 Sept.

OH received DN issued 16 Sept, remedy 25 Sept.

As this is joint a/c surely a/c closed from 1 August and no action can be taken?

Have I misread this?

Any advice gratefully received, especially if it can explain this:confused: as LTSB have sent letter threatening court if no payments made.

[cymruambyth]

Bump please anyone?

[Bazooka Boo]

If it is a 2000 account, and no longer used then it would be statute barred. Depending on when the last payment or acknowledgement was made..

[cymruambyth]

No it's not sb.

[Bazooka Boo]

No it's not sb.[/q

Have you been paying something toward it then?

Acknowledged it in some way?

Is that what they are telling you??

[Crapstone]

Going through old paperwork I have found:

Enforcement notice to me terminating account on 1 August 200:wink: and demanding payment of arrears dated 23 July 200:wink:

DN issued 13 August, need to check on date of posting as remedy on 22 Aug

OH received enforcement notice dated 1 Sept 200:wink: payment etc 10 Sept.

OH received DN issued 16 Sept, remedy 25 Sept.

As this is joint a/c surely a/c closed from 1 August and no action can be taken?

Have I misread this?

Any advice gratefully received, especially if it can explain this:confused: as LTSB have sent letter threatening court if no payments made.

 

LTSB can chase either or both of you as it's joint and several liability if the overdraft is on a joint account. They can treat you both differently as long as the facts remain the same and the debt is owed .

[cymruambyth]

Does the fact that the dn was issued after the account was terminated mean anything?

[cymruambyth]

Bump anyone please? Does it matter if the account is terminated before the DN?

Thank you

[popeye1]

bump

[cymruambyth]

'Enforcement notice to me terminating account on 1 August 200:wink: and demanding payment of arrears dated 23 July 200:wink:

DN issued 13 August, need to check on date of posting as remedy on 22 Aug

OH received enforcement notice dated 1 Sept 200:wink: payment etc 10 Sept.

OH received DN issued 16 Sept, remedy 25 Sept.'

Please please please can anyone comment of this?

AS the account was terminated, though they only asked for arrears, before the DN was issued, does this count as rescission of the account so that only the arrears can be claimed?

Thank you

[popeye1]

Allow 2 days from date on DN and then count 14 days to the date you are allowed, if 1st class post,non of your DNs give you enough time, so i think are cr*p.I think you are correct in that they terminated before DNs and so they have droped a clanger and can only go for arrears.someone better will be along soon to advise ,in case i am wrong

[Bazooka Boo]

A Default notice is simply a record placed on your file by creditors stating that you have been in default in some way. Such notices may have been placed without your knowledge and despite a subsequent remedy to the default.

Under the terms of your credit agreement you will probably have agreed that the lender has the right to inform the credit agencies of any default.

Unlike the procedures for the Removal of CCJ’s you cannot have a default notice removed without the consent of the relevant creditor/lending institution.

The willingness of the lending institution will depend on whether any of the following situations apply to you:

 

 

• The default notice was served but payments have now been brought up-to- date
  
• The loan has now been fully repaid
  
• Payments are still in default but a repayment schedule has been agreed or you wish to agree a revised repayment schedule
  
• You disagree with the default notice, and it has been placed on your file incorrectly
  
• You may have unknowingly fallen behind on a Mail Order company account. Most Mail Order companies do not send out reminders and may have terminated the account as a bad debt
  

Termination Notices usually arise from mail order accounts where relatively small monthly payments are required to maintain the account. However, as most mail order companies do not send out reminders, these payments often get neglected and slip one’s mind.

Without your knowledge the mail order company may terminate your account as a bad debt, which will seriously affect your credit rating once registered with the agencies.

Removal of Default & Termination Notices - What is a Default Notice?

 

I have received a default notice - what should I do?

It is not notice of any legal action so don't panic! A default notice is simply a form issued to you by the creditor telling you that you are in default of your credit agreement - in other words, that you are not up-to-date with your repayments.

However, if you receive a default notice, do not ignore it. While it is no reason to panic, a default notice is a warning that you may have a financial problem.

Creditors may use a default notice as the first step towards legal action against you. (When the credit agreement is one regulated by the Consumer Credit Act 1974, the default notice must be issued before legal action begins.)

If you have simply missed a couple of payments and are now in a position to increase your repayments to catch up on your arrears, contact the lender within seven days of receiving the letter. Calculate how much you can afford to pay towards the arrears and make an offer of repayment. Put this in writing and keep a copy for yourself. If your offer is rejected, make the payment anyway as it shows that you are willing to sort out the problem. Get advice from your local Citizens Advice Bureau -

www.nacab.org.uk provides details on how to get in touch with a CAB.

If you cannot afford to comply with the agreement and pay the arrears do not ignore the situation! If you have other debts and find that you simply cannot keep up the necessary repayments to your creditors, it is time to act. Many organisations offer free debt advice and are able to negotiate with your creditors to come to a mutually acceptable repayment scheme. This will help you deal with the debt for which you have received a default notice and may stop any enforcement action.

 

http://www.debtquestions.co.uk/legal_defaultnotice.php

Edited July 15, 2009 by Bazooka Boo
Extra Info

[cymruambyth]

Hi popeye, from other threads I think that they may had made a 'technical hitch' but am waiting for confirmation before I say anything.

Hi Baz Boo, thank you for the references. Unfortunately they don't really cover my situation as this is an od that was terminated 6 years ago, several days before the DN was issued.

[Bazooka Boo]

Ok, no worries:D was just trawling the net trying to get any info on it;)

 

 

Boo

[cymruambyth]

Thanks for looking in. It's a grey area (at least in my mind) that could be very beneficial to me and possibly others if the right legislation can be found. I have been warned that LTSB are difficult to get to admit 'their possible short comings.

[babybear39]

LTSB will do anything and then pass it **** to try out. And we know what they're like

[cymruambyth]

Yes I know which is why I'm trying to be fore warned! I've read about rescission of agreement, but am not quite sure if this is it:confused:

How are you feeling?

[babybear39]

A little better thanks. Is a right nuisance getting shingles just after moving...

 

How're you?

 

Not sure about the recision stuff

[cymruambyth]

I'm fine, just waiting to catch swine flu as it seems to be going around my area!

Shingles always gets you when you are stressed and don't need it!!!

[babybear39]

Swine flu would finish me off at the mo lol...Hope you don't get it

[Bazooka Boo]

Swine flu would finish me off at the mo lol...Hope you don't get it

 

Atchoo! Atchoo! Atchoo!....Haven't felt right ever since my two weeks in Mexico:D

 

cymruambyth, if your wanting a quick definite answer, I would ring the National Debtline as they are bound to have come across this before, if not they will know a man who can!

 

I rang them seeking an answer to another matter, and as the first woman didn't know the in's and out's of the subject, rather than give me duff info, she found out there and then for me:D

 

National Debtline England & Wales, for FREE CONFIDENTIAL and INDEPENDENT ADVICE call 0808 808 4000

[babybear39]

Yes, nationaldebtline are extremly good. The guy I spoke to sent me here

[cymruambyth]

Thank you, if all else fails maybe they can advise who to pm for an answer

[Bazooka Boo]

Yes, nationaldebtline are extremly good. The guy I spoke to sent me here

 

*BB sent BB to CAG after talking on the phone*